Koshinski Asset Management Inc. boosted its stake in Visa Inc (NYSE:V) by 50.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,725 shares of the credit-card processor’s stock after purchasing an additional 7,309 shares during the quarter. Visa comprises about 0.6% of Koshinski Asset Management Inc.’s investment portfolio, making the stock its 29th largest holding. Koshinski Asset Management Inc.’s holdings in Visa were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Trust Co increased its holdings in shares of Visa by 51.4% in the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 1,535 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Visa by 12.2% in the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock worth $892,000 after acquiring an additional 1,016 shares in the last quarter. Fundsmith LLP increased its holdings in shares of Visa by 5.3% in the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after acquiring an additional 262,930 shares in the last quarter. Beach Point Capital Management LP bought a new stake in shares of Visa in the third quarter worth about $5,736,000. Finally, Calamos Wealth Management LLC increased its holdings in shares of Visa by 186.5% in the third quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock worth $7,211,000 after acquiring an additional 44,609 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
In related news, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. analysts anticipate that Visa Inc will post 4.36 EPS for the current year.
Visa declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio is 32.94%.
Several brokerages have issued reports on V. Cantor Fitzgerald increased their price target on Visa to $141.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a report on Monday, January 8th. Cowen restated a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Loop Capital increased their price target on Visa to $142.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Morgan Stanley increased their price target on Visa from $137.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $134.14.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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